Quiz Module 1 Some of the following accounts may appear on more than one statement. Would you please tell me what statement or statements they are on? 1) Net Income 2) End-of-period retained earnings balance 3) Net decrease in cash 4) End-of-period cash balance 5) Dividends payable 6) Retained Earnings 1/1 For the following could you please list the statment and if it is a real or nominal account? 1) Interest income 2) Bonds payable 3) Prepaid Insurance 4) Supplies on hand

Quiz Module 1 Some of the following accounts may appear on more than one statement. Would you please tell me what statement or statements they are on? 1) Net Income 2) End-of-period retained earnings balance 3) Net decrease in cash 4) End-of-period cash balance 5) Dividends payable 6) Retained Earnings 1/1 For the following could you please list the statment and if it is a real or nominal account? 1) Interest income 2) Bonds payable 3) Prepaid Insurance 4) Supplies on hand

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Description: Quiz Module 1Some of the following accounts may appear on more than one statement. Would you please tell me what statement or statements they are on?1) Net Income2) End-of-period retained earnings balance3) Net decrease in cash4) End-of-period cash

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter13: Financial Statement Analysis

Section: Chapter Questions

Problem 13.1AP

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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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Quiz Module 1

Some of the following accounts may appear on more than one statement. Would you please tell me what statement or statements they are on?

1) Net Income

2) End-of-period retained earnings balance

3) Net decrease in cash

4) End-of-period cash balance

5) Dividends payable

6) Retained Earnings 1/1

For the following could you please list the statment and if it is a real or nominal account?

1) Interest income

2) Bonds payable

3) Prepaid Insurance

4) Supplies on hand

Definition Definition Remaining net income of the company after the required dividends are paid to shareholders. This surplus money is usually invested back into the business to expand its business operations or launch a new product.

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